- Story Log
User | Time | Action Performed |
---|---|---|
-
‘Close the f–ing door’: Climate protestors interrupt Powell for the second time this month
Federal Reserve Chair Jerome Powell was interrupted by climate protestors Thursday during public remarks for the second time in the past month. The protest came during Powell’s opening remarks at the International Monetary Fund’s annual research conference. A man could be heard saying “close the f–ing door” before the livestream went out. When the stream resumed, the moderator clarified that while climate issues were important, they were not the topic of the panel. Powell had just begun to speak about U.S. monetary policy and the ongoing fight to bring inflation to its 2 percent target when he was ... (full story)
- Comments
- Subscribe
-
- Older Stories
post: FED'S POWELL: A GREATER SHARE OF PROGRESS ON INFLATION AHEAD MAY HAVE TO COME FROM TIGHT MONETARY POLICY, NOT JUST SUPPLY-SIDE IMPROVEMENT. post: FED'S POWELL EMPHASIZES BEING ATTENTIVE TO THE RISKS OF MISINTERPRETATION BY DATA AND THE DANGER OF OVERTIGHTENING. HE NOTES THAT "INFLATION HAS GIVEN US A FEW HEAD FAKES post: FED'S POWELL LEAVES THE STAGE AT THE IMF EVENT AFTER ARRIVAL OF CLIMATE PROTESTORS. post: POWELL RETAKING STAGE AT IMF EVENT; "WHERE WAS I?" #News #Markets #POWELL #live
Thank you for the opportunity to participate in today's panel discussion. My assigned topic is U.S. monetary policy in the current global inflation episode. I will briefly address the U.S. outlook and then turn to three broader questions raised by the historic events of the pandemic era. U.S. inflation has come down over the past year but remains well above our 2 percent target (figure 1).1 My colleagues and I are gratified by this progress but expect that the process of getting inflation sustainably down to 2 percent has a long way to go. The labor market remains tight, although improvements in labor supply and a gradual easing in demand continue to move it into better balance.2 Gross domestic product growth in the third quarter was quite strong, but, like most forecasters, we expect growth to moderate in coming quarters. Of course, that remains to be seen, and we are attentive to the risk that stronger growth could undermine further progress in restoring balance to the labor market and in bringing inflation down, which could warrant a response from monetary policy. The Federal Open Market Committee (FOMC) is committed to achieving a stance of monetary policy that is sufficiently restrictive to bring inflation down to 2 percent over time; we are not confident that we have achieved such a stance. We know that ongoing progress toward our 2 percent goal is not assured: Inflation has given us a few head fakes. If it becomes appropriate to tighten policy further, we will not hesitate to do so. We will continue to move carefully, however, allowing us to address both the risk of being misled by a few good months of data, and the risk of overtightening. We are making decisions meeting by meeting, based on the totality of the incoming data and their implications for the outlook for economic activity and inflation, as well as the balance of risks, determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time. We will keep at it until the job is done. With that, I will turn to three questions that have arisen from the receding but still elevated inflation we are experiencing today. The first question is, with the benefit of 2‑1/2 years to look back, what we can say about the initial causes and ongoing policy implications of the current inflation. After running below our 2 percent target over the first year of the pandemic, core PCE (personal post: Powell: 'Gratified' by Lower Inflation but Sees 'Long Way to Go' -- WSJ Powell: 'We Are Not Confident That We Have Achieved Such a Stance' -- WSJ post: FED'S POWELL: WE EXPECT GDP GROWTH TO MODERATE IN COMING QUARTERS, BUT REMAINS TO BE SEEN. post: FED'S POWELL: WE ARE ATTENTIVE TO THE RISK THAT STRONGER GROWTH COULD UNDERMINE INFLATION PROGRESS, WHICH COULD WARRANT A MONETARY POLICY RESPONSE. post: FED'S POWELL: IT IS TOO SOON TO KNOW IF POLICY CHALLENGES OF EFFECTIVE LOWER BOUND WILL BE A THING OF THE PAST.
On November 9, Gita Gopinath, Jerome Powell, Ken Rogoff, Amir Yaron, and Pierre-Olivier Gourinchas will discuss the challenges of monetary policy in a global economy.
-
- Newer Stories
post: FED'S POWELL: THE US ECONOMY HAS BEEN STRONGER THAN EXPECTED, THIS YEAR REMARKABLE. post: FED'S POWELL: SOME HOUSEHOLDS AND BUSINESSES ARE NOT FEELING HIGHER RATES. post: FED'S POWELL: IT'S HARD TO DRAW A DIRECT LINE FROM THINGS LIKE HIGHER BOND YIELDS TO A MONETARY POLICY RESPONSE. post: FED'S POWELL: THE FED IS STILL TRYING TO JUDGE IF IT NEEDS TO DO MORE, THEN WE WILL CONSIDER HOW LONG TO KEEP RATES HIGH. post: POWELL: LOOKING CAREFULLY AT REASONS BEHIND RECENT YIELD SURGE
post: FED'S POWELL: THE BIGGER MISTAKE REMAINS NOT GETTING RATES HIGH ENOUGH. post: Powell: The fed-funds rate is around 5.3% and if expected one-year ahead inflation is around 3%, that implies a real rate above 2% He says that's "well above" mainstream estimates of the neutral rate, and policy is "probably significantly restrictive"
Complete disaster. That's the only way one can describe today's 30Y auction, which many expected could be challenging after a mediocre 3Y and a subpar 10Y auction earlier this ...
- Story Stats
- Posted: Nov 9, 2023 2:47pm
- Submitted by:Category: Entertainment NewsComments: 0 / Views: 6,223